TAIPEI -- Chip assembler ChipMOS Technologies said on Wednesday that it had terminated plans to sell a 25% stake to Beijing-backed tech conglomerate Tsinghua Unigroup after months of deliberation by the administration of pro-independence President Tsai Ing-wen failed to move the approval process forward.
"We have done our best to try to ask the government to approve the sale, but it's unlikely now that any progress would be made by the end of this year," Chairman and Chief Executive S.J. Cheng told reporters on Wednesday. Tsai's government had subjected the deal to close scrutiny for months over security concerns.
